Nokia Rating Lowered to Sell at Societe Generale (NOK)
Several other analysts have also recently commented on the stock. Analysts at Bank of America (NYSE: BAC) initiated coverage on shares of Nokia in a research note to investors on Friday. They set an “underperform” rating on the stock. Separately, analysts at Caris & Company downgraded shares of Nokia from a “buy” rating to an “average” rating in a research note to investors on Wednesday, May 9th. They now have a $39.00 price target on the stock. Finally, analysts at Capstone downgraded shares of Nokia from a “buy” rating to a “hold” rating in a research note to investors on Thursday, May 3rd. They noted that the move was a valuation call.
Shares of Nokia traded down 3.28% during mid-day trading on Monday, hitting $2.95. Nokia has a 52 week low of $3.01 and a 52 week high of $8.63. The company’s market cap is $10.947 billion.
Nokia last announced its earnings results on Thursday, April 19th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.01. Nokia’s revenue was down 29.3% compared to the same quarter last year. On average, analysts predict that Nokia will post $-0.05 earnings per share next quarter.
Nokia Oyj (Nokia) has three operating segments: Devices & Services; NAVTEQ, and Nokia Siemens Networks.